Fluor Corp. reported disappointing fiscal third-quarter earnings and said 2000 operating earnings may fall by 15% because of cost overruns at a large power project in Dearborn, Mich., and weakness in its coal-mining business. Fluor shares fell by 9.5% on the news.

The shortfall is an embarrassing setback for the Aliso Viejo, Calif., construction company's management, which had been forecasting "a modest improvement" for the...